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Chinese Retail Giant Suning Will Launch A Blockchain Product ‘APOLLO’ In August

Chinese retail giant Suning announced on July 28th that the company will unveil a new blockchain product dubbed ‘APOLLO’ on August 8th, according to local news source huanqiu.com. It’s Suning’s first digital asset product that based on blockchain’s encryption technology , aiming to create a valuable ecosystem.

Qiao Xinliang, vice president of Suning Technology, said at the press conference that “ Sunning is trying to apply blockchain technology to all scenarios in its ecosystem’.

At present, APOLLO is still under internal testing. The blockchain-based eco product creates a business model to monetarize data and web traffic. After signing up and logging in, users can be rewarded the Mana Point, and they can obtain the Point by completing various tasks, including inviting new friends to join the initiative, contributing to build the ecosystem and brisk walking, as well as completing customized tasks. The Mana Points is connect with the distribution of Energy Stones. The higher the Mana Point is, the more the Energy Stones they will get. Energy Stones with a limited supply will be used for consumption and exchange in the APOLLO. The sooner you join and the more active you are in the game, the more rewards you will get.

‘Residents’ in the APOLLO have the only and tamper-proof blockchain ID, and all their personal information is encrypted and stored in blockchain which will never be open to the public without their own authorization. Besides, APOLLO will utilize blockchain technology to help ‘residents’ earn their digital assets and build the Attention Economy. They can also get returns and conduct value trades in the game.APOLLO is expected to attract a large number of users by using blockchain technology.

Suning Institute of Technology , Suning Institute of Finance and Suning Cloud on July 20 jointly released Suning blockchain white paper which explains application scenarios of blockchain in fields of retail, logistics, technology, finance, etc. The initiative marks that the e-commerce giant will take advantage the blockchain hype to improve its business performance.